For whatever reason, people really talk up the big time. You’re encouraged to “make it big,” that “bigger is better,” and that “big ideas” are all that’s needed.
Consider this a plug for thinking smaller.
No doubt, big ideas and dreaming big is important. But, never let it come at the expense of missing out on a key opportunity. What would happen if you thought small?
With today’s social media tools, the ability to find and communicate with a specific niche market can still make you super successful. In the past few weeks, Proof has had conversations with current and potential clients about going after very specific – albeit smaller – markets. These include:
- New parents
- People who are returning to yoga after years off
- People who provide services to families in crisis
- Small group leaders in churches
Some may say that’s thinking too small. Why not go after everyone who practices yoga instead of just those who used to and want to again? Why not go after everyone in a church and not just the leaders? While you mye think one should go big or go home, focusing on a niche market has its advantages:
- The Best Made Company only makes axes for those who like quality and design when chopping firewood.
- Tesla is making electric cars for a very small market of buyers.
- Dollar General began as a way for people in rural areas to get quality home goods.
- Many nonprofits appeal to a very small market.
You can still go big. Just know you may have a longer and more difficult go of it as you try to reach scale. Going after a smaller market could make you profitable more quickly, even if you never top seven figures in revenue.
That’s thinking big.
Tell us: what’s your niche market? Who is it you’re trying to reach? The more specific you are, the better you’ll be at actually reaching them.